Lifestyle | How to handle a unexpected bill*

Lifestyle | How to handle a unexpected bill*

There comes a time when we may receive a unexpected bill. It just lands on your doorstep, unexpected and usually at the most inconvenient times.

In the last month, we have had not one but two jump out at us. And completely unjust and surprising to say the least.
But when you are being demanded a fair sum of money in a very short time span, it can not only be distressing, but scary too!!

How are we going to pay this? Am I going to incur further charges? I can’t not get this fixed, its our life support!! 

Whatever the situation or reason behind the sudden urge for cash, I have compiled a couple of ways you can tidy yourself over when things get desperate.

Consider a short term loan | 

Whilst they may seem like a scary prospect, there are actually good short term loan companies that will help in times of need, and not cost the earth in interest. Short term loans can offer your security when you need it most. Borrow anything between £80 – £2,000 and repay in monthly instalments over a period of 3 months to 1 year. It’s the perfect resolution when needing cash urgently. Don’t write it off as a option.

Take a payment holiday | 

With lots of mortgages, you can take a payment holiday. This means that, for a couple of months you can cease paying any mortgage payments, as agreed with your lender. This can be a great help, and a easy way to back back any money borrowed in a very short time span. Be sure to check your mortgage terms and conditions to see whether this is a viable option for you.

Call on family | 

No-one likes to ask for help, especially when there is money involved. But if you are in urgent need of some cash, family would prefer to help if they can, then see you struggle. If you are worried on taking the mick, set out some guidelines and how and when you will pay back the money you have borrowed.

Consider a overdraft | 

Overdrafts are great things when you are suddenly called upon to pay a large bill, or cover a unexpected expense. Many banks will offer you a overdraft on your current account. Be sure to contact your bank to see whether you are able to either extend your existing one, or apply one to your account.

No one likes calling on others for a helping hand when it comes to money. My first advice would be to not panic. Panicking will not help solve the situation and can make it 10 times worse. There are plenty of options out there for you. Be aware, a short term loan isn’t as bad as many make out. Just make sure you read all the bunff, and understand it will cost you more to pay it back than the amount you borrowed.

Have you had some unexpected bills land? 
What did you do when you needed money fast? 
Do you have any advice? 
Let me know and comment below! 
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